DOCUMENT TAGS Risk Financing
EARLY ACTION PLANNING, CONTINGENCY PLANNING AND COORDINATION
11 November 2019
A new series of technical discussion papers by the Start Network, the Red Cross Red Crescent Climate Centre and the International Federation of Red Cross and Red Crescent Societies explores how evolving disaster risk financing (DRF) approaches could be a game changer in acting earlier, quicker and more effectively to predictable humanitarian crises.
The papers are attempting to redefine how DRF meets humanitarian objectives. Building on the practical experience of the Start Network and IFRC the papers call for a move from the traditional DRF sovereign approach to a more human-impact driven approach to risk financing, identifying the financial and operational needs from the ground up; an ‘impact before instruments approach.’
Each paper explores the need for such a renewed approach whilst identifying some of the technical challenges and posing solutions to make disaster risk financing work most effectively in the humanitarian context. The aim is to ignite dialogue and build collaboration around key technical challenges whilst highlighting some key solutions to unlock the potential of DRF for humanitarian action.
The core components of DRF systems ensure they are localised, fit for purpose and related with quantified risk analytics and financial prepositioning. Early action and contingency planning are integral to these components and are based on an analysis of the measures needed to deliver support at the right to people at risk. Effective contingency planning should be central to the success criteria for a DRF system but in order to be so, a contingency plan will need to define the problem statement and proposed solution to avoid losses. The paper considers how such planning can take place in a coordinated, collaborative way across governments and humanitarian actors to help fill gaps and analytics needed to initiate implementation.